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Video of SEC Chair Praising Algorand Resurfaces After Recently Deeming It a Security

A video of US SEC Chair Gary Genser praising smart contract platform Algorand in 2019 has resurfaced on Twitter following the SEC's declaration that Algorand's ALGO token is an unregistered security. The SEC's lawsuit against crypto trading platform Bittrex on 17 April took issue with the Algorand Foundation's initial coin offering (ICO) of ALGO in June 2019. Cryptocurrency researcher Mason Versluis tweeted the video on 17 April, criticizing Genser for "shilling" ALGO, and others called him out for hypocrisy. Genser is due to testify before the US House Committee on Financial Services on 18 April, and is expected to be questioned over his Algorand comments.

(By BRAYDEN LINDREA)

Algorand Algorand $0.39
+3.52%
SEC Gary Gensler
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